Thursday, January 22, 2009

Cold Cash in hard times

Here's a money saving tip: Place your credit card(s) and/or debit card in a cup of water in the freezer. Trust me, you'll have plenty of time to think over whether or not you REALLY NEED that item you want to purchase! Especially when, in my case, it involves a 15 minute drive back home, and then back into town. Not to mention the time it takes to thaw and dry off!

credit card in ice

I haven't had to go to that extreme myself just yet to curtail my spending. I'm one of the lucky ones with a steady job, regular cost of living increases, and an overwhelming desire to have some money left at the end of the month. I do know people who do that, however, and it seems to work well for them. But to be honest, up until this past year, I've probably been just about average when it comes to outstanding credit card debt. In case you've wondered: The average American with a credit file is responsible for $16,635 in debt, excluding mortgages, according to Experian. (Source: U.S. News and World Report, "The End of Credit Card Consumerism," August 2008)

That is one thing I've been working very hard on lately, much to the dismay of retailers far and wide. If I can stay on track, ( that means, no unexpected bills, like cars dying.) (oops.... now I've done it! any bets on which car dies next??) I will have $0.00 in outstanding credit card debt by June of this year. This process has taken me a number of years to accomplish, truly I've lost track of how many.

pt cruiser

My next obsession will be to pay off the car and the Equity Line of Credit. I'll let you know in a few years how that's coming!!

Credit Cards on Whidbey Island.

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